DGAP-Adhoc Automotive Supplier paragon Exceeds Market Expectations with 10% Increase in Revenues in Third Quarter
DGAP-Ad-hoc: paragon GmbH & Co. KGaA / Key word(s): Preliminary Results/9 Month figures
Automotive Supplier paragon Exceeds Market Expectations with 10% Increase in Revenues in Third Quarter
Delbrück, Germany, October 21, 2020 - paragon [ISIN DE0005558696] presented preliminary figures today of its automotive business for the third quarter of 2020. Revenues in the core automotive business has increased by 10% to € 33.8 million. The main growth drivers were the Digital Assistance (up 75%), Sensors (up 16.5%) and Kinematics (up 15%) business units. According to preliminary figures, the Group has generated revenue of € 83.8 million in the automotive business after three quarters. The EBITDA margin after nine months stands at 9.0%, on par with the previous year's level despite the coronavirus-related plant closures. In the third quarter alone, paragon Automotive achieved an EBITDA margin of 12.2%.
On the basis of orders on hand until the end of the year, the Management expects to reach the upper end of the respective forecast ranges for revenues and earnings for its automotive segment. This would correspond to revenue of roughly € 120 million and an EBITDA margin of 12%. Revenue may even increase to as much as € 125 million.
The Management is wholly satisfied with the progress of negotiations on the sale of the subsidiary Voltabox. The company has received multiple offers. The Management anticipates that the matter will be concluded before the end of the year.
Publication of the interim financial report for the third quarter is being moved forward to October 30.
About paragon GmbH & Co. KGaA
paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In addition, the Group holds a stake in Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., which is active in the rapidly growing electromobility segment with cutting-edge lithium-ion battery systems developed inhouse.
|Diskussion: Voltabox AG - Börsengang 2017|
|Diskussion: Voltabox will 2020 wieder in die Gewinnzone zurückkehren|